Chinese Magnate Says Backed by ‘Jewish American’ Financier in Bid to Buy New York Times

January 3, 2014 12:55 pm 6 comments
Office of The New York Times, in New York City. Photo: WikiCommons.

Office of The New York Times. Photo: Wiki Commons.

A Chinese magnate who has expressed an interest in buying The New York Times said that he is backed by a “Jewish American” financier to the tune of $600 million, Reuters reported on Friday.

Chen Guangbiao, 45, whom Reuters described as an “oddball” recycling magnate who has never acquired a company nor worked in the media industry, said that he has retained a financial services firm to assist him in the takeover bid.

Chen’s stated offer of $1 billion is far below The Times’s current market value of $2.4 billion, and according to Reuters it is highly unlikely that the Ochs-Sulzberger clan which controls the publication would sell to Chen, who is known for his publicity stunts.

Chen further described his Jewish partner, whom he said wished to remain anonymous, as someone who has worked in finance in Hong Kong and speaks fluent Chinese. The financier has previously completed two acquisition deals with U.S. media outlets, Chen said, declining to name them, though he added neither is as big as The Times, Reuters said.

Hurun’s Rich List of China’s super-wealthy estimates that Chen is worth $740 million. He is also known for his substantial philanthropic activism.

6 Comments

  • If the deal is done and the NYT is sold to Mr Chen Guangbiao, will its name remain the same or will it acquire a new name like “New China Times?”
    Results are eagerly awaited

  • aye bless israel

    How could they stoop down so low from their original purpose and dignity in Israel for the sake of a little cheapie oil money and motley academism?

    Genesis 12:3 I will bless those who bless you, and him who dishonors you I will curse, and in you all the families of the earth shall be blessed.

    am yisrael chai

  • Unless it is bought by some Arab satrapy, nothing can make the NY Times worse than it has been for many and many decades about any Jewish issue or Israel.
    After unbelievable and constant falsity I cancelled my subscription at the time of the First Intifada, when it became intolerable for any truth seeker, in spite of A.M Rosenthal and William Sapphire, who were very distant from the editorial line and the constant pseudo-news.
    The NY Times is the paper that published items about Jewish massacres of tens of thousands in Europe during the Shoah on page six without even a title, right next to shoe shopping and similar yet with big titles.
    No one can be worse than an assimilated and assimilationist former-Jewish family, always concerned about not being thought of as Jews by being “too Jewish”.

  • New York Times won the Honestreporting Dishonest Award for 2013.

    I hope the Jewish financier isn’t Soros in a bid to keep the same trend going.

  • Prof Asher J Matathias

    Were the transaction to be consummated, it will sadly end a tradition of the Ochs family in control of America’s premier newspaper, and the pride of our city, The New York Times. The proposed acquisition would be the more galling, for being acquired prospectively by an heir who stands in antithesis to American capitalism, a Chinese man who has sprung from the ostensible Communism of authoritarian China! The irony, of course, is that our economy adheres to globalism, when others continue to wrap themselves with the mantle of jingoism, abd protectionism! Care must be exercised here.

    • All too true. However, perhaps a new owner would reinstate journalistic ethical standards. The New York Times WAS the preeminent newspaper in the US. However, their naked bias against Israel on every issue, and the lacking even of a pretense of fairness, might be corrected by a less bigoted owner group.

Leave a Reply

Please note: comments may be published in the Algemeiner print edition.


Current day month ye@r *

More...

  • Jewish Identity Sports Cycling the Desert: New Israel Bike Trail Connects Mitzpe Ramon to Eilat

    Cycling the Desert: New Israel Bike Trail Connects Mitzpe Ramon to Eilat

    As the popularity of cycling continues to increase across the world, Israel is working to develop cycling trails that make the country’s spectacular desert accessible to cyclists. The southern segment of the Israel Bike Trail was inaugurated on Feb. 24 and offers for the first time a unique, uninterrupted 8-day cycling experience after six years of planning and development. The southern section of the Israel Bike Trail stretches over 300 kilometers in length and is divided into eight segments for mountain biking, [...]

    Read more →
  • Jewish Identity Theater Forthcoming Major Action Movies Inspired by Jewish Comic Artist Jack Kirby

    Forthcoming Major Action Movies Inspired by Jewish Comic Artist Jack Kirby

    JNS.org – With the recent Oscars in the rearview mirror, Hollywood’s attention now shifts to the rest of this year’s big-screen lineup. Two of the major action films coming up in 2015—Avengers: Age of Ultron, which hits theaters in May, and the third film in the Fantastic Four series, slated for an August release—have Jewish roots that the average moviegoer might be unaware of. As it turns out, it took a tough Jewish kid from New York City’s Lower East [...]

    Read more →
  • Book Reviews Jewish Identity When Torah Teaches Life and Life Teaches Torah (REVIEW)

    When Torah Teaches Life and Life Teaches Torah (REVIEW)

    JNS.org – Rabbi Gordon Tucker spent the first 20 years of his career teaching at the Conservative movement’s Jewish Theological Seminary (JTS) and the next 20 years as the rabbi of Temple Israel Center in White Plains, N.Y. I confess that when I heard about the order of those events, I thought that Tucker’s move from academia to the pulpit was strange. Firstly, I could not imagine anyone filling the place of my friend, Arnold Turetsky, who was such a talented [...]

    Read more →
  • Arts and Culture Blogs Oscars 2015: Reflecting on Love at First Sight

    Oscars 2015: Reflecting on Love at First Sight

    JNS.org – I’m in love, and have been for a long time. It’s a relationship filled with laughter, tears, intrigue, and surprise. It was love at first sight, back when I was a little girl—with an extra-terrestrial that longed to go home. From then on, that love has never wavered, and isn’t reserved for one, but for oh so many—Ferris Bueller, Annie Hall, Tootsie, Harry and Sally, Marty McFly, Atticus Finch, Danny Zuko, Yentl, that little dog Toto, Mrs. Doubtfire, [...]

    Read more →
  • Blogs Book Reviews Examining America’s First Foray into the Middle East (REVIEW)

    Examining America’s First Foray into the Middle East (REVIEW)

    At the turn of the 21st century through today, American involvement in Middle Eastern politics runs through the Central Intelligence Agency. In America’s Great Game: The CIA’s Secret Arabists and the Shaping of the Modern Middle East, historian Hugh Wilford shows this has always been the case. Wilford methodically traces the lives and work of the agency’s three most prominent officers in the Middle East: Kermit “Kim” Roosevelt was the grandson of president Theodore Roosevelt, and the first head of [...]

    Read more →
  • Relationships US & Canada Seniors at Los Angeles Jewish Home Give Witty Dating Advice Ahead of Valentine’s Day (VIDEO)

    Seniors at Los Angeles Jewish Home Give Witty Dating Advice Ahead of Valentine’s Day (VIDEO)

    Residents of the Los Angeles Jewish Home give dating advice to a young Jewish man in a comedic video posted Monday on YouTube just in time for Valentine’s Day. Jonathan, an associate at the Jewish home, quizzes the senior citizens on an array of topics including having sex on the first date, kissing a girl, who should pay for dinner and whether online dating is a good idea. When the 28-year-old asks a male resident named Lee about his experiences [...]

    Read more →
  • Arts and Culture Jewish History Kutsher’s Documentary an Amazing, and Tragic, Look at the Past (REVIEW)

    Kutsher’s Documentary an Amazing, and Tragic, Look at the Past (REVIEW)

    Anyone who spent time in the Jewish Catskills hotels – especially those like me, who returned for decades – must see the new documentary,”Welcome to Kutsher’s: The Last Catskills Resort.” Not only will the film transport you back to the glory days of your youth and thousands of memories, but it will also make you long for a world that is now lost forever. I returned to Kutsher’s one last time in the summer of 2009, but by then, the [...]

    Read more →
  • Education Jewish Identity Lifestyle Riding the Wave of Change in Part-Time Jewish Education

    Riding the Wave of Change in Part-Time Jewish Education

    JNS.org – Amid the numerous studies and analyses regarding Jewish American life, a simple fact remains: part-time Jewish education is the most popular vehicle for Jewish education in North America. Whenever and wherever parents choose Jewish education for their children, we have a communal responsibility to devote the necessary time and resources to deliver dynamic, effective learning experiences. The only way we can do this is by creating space for conversations and knowledge-sharing around innovative new education models. That also [...]

    Read more →



Sign up now to receive our regular news briefs.